Centiva Capital LP Buys Shares of 33,846 GlobalFoundries Inc. (NASDAQ:GFS)

Centiva Capital LP bought a new stake in GlobalFoundries Inc. (NASDAQ:GFS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,846 shares of the company’s stock, valued at approximately $1,362,000.

Other institutional investors also recently bought and sold shares of the company. Ghisallo Capital Management LLC raised its holdings in shares of GlobalFoundries by 200.0% in the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after buying an additional 200,000 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of GlobalFoundries by 89.0% in the third quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock worth $2,969,000 after buying an additional 34,731 shares during the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of GlobalFoundries by 52.0% in the second quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company’s stock worth $3,218,000 after buying an additional 21,765 shares during the last quarter. Versor Investments LP raised its holdings in shares of GlobalFoundries by 167.7% in the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock worth $765,000 after buying an additional 11,908 shares during the last quarter. Finally, Renaissance Capital LLC raised its holdings in shares of GlobalFoundries by 20.0% in the third quarter. Renaissance Capital LLC now owns 106,047 shares of the company’s stock worth $4,268,000 after buying an additional 17,707 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup decreased their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a report on Wednesday, November 6th. Susquehanna reduced their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, UBS Group started coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and a consensus target price of $50.21.

GlobalFoundries Stock Down 0.6 %

Shares of NASDAQ GFS opened at $44.38 on Thursday. The company’s 50-day simple moving average is $41.19 and its 200-day simple moving average is $45.54. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $62.61. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 11.02 and a beta of 1.59. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last announced its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

About GlobalFoundries

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.